Solution-Compute the weighted-average number of common

Compute the weighted-average number of common shares

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Question - Pink Inc. uses a calendar year for financial reporting. The company is authorized to issue 8,370,000 shares of $12 par common stock. At no time has Pink Incissued any potentially dilutive securities. Listed below is a summary of Pink Inc common stock activities.

1. Number of common shares issued and outstanding at December 31, 2015 1,990,000

2. Shares issued as a result of a 12% stock dividend on September 30, 2016 238,800

3. Shares issued for cash on March 31, 2017 2,000,000

Number of common shares issued and outstanding at December 31, 2017 4,228,800

4. A 2-for-1 stock split of Pink common stock took place on March 31, 2018

Compute the weighted-average number of common shares used in computing earnings per common share for 2016 on the 2017 comparative income statement.

Reference no: EM132494088

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Compute the weighted-average number of common shares

Reference no: EM132494088

Reference no: EM132494088

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